Quote of the day

Felix Salmon, “The stock market is no longer the common ownership of the means of production: it’s a place where early-stage investors can exit to a group of muppets and high-frequency traders.”  (Reuters)

Chart of the day

Have you checked out lumber prices this year?  (WSJ)

Video of the day

Michael Martin talks with Jack Schwager author of Hedge Fund Wizards.  (MartinKronicle)

Markets

Another look at the stresses individual investors have faced of late. (TheArmoTrader also WSJ)

Hedge funds are piling into long bond futures.  (MarketBeat)

Strategy

The use of metaphors in investing is a double-edged sword.  (Interloper also TRB)

Great lessons from the other side of the trade…a margin clerk.  (Brian Lund)

Companies

Why Twitter and LinkedIn ($LNKD) have better prospects than Facebook ($FB).  (Minyanville)

Who knew? Heinz ($HNZ) has a fast growing emerging market segment.  (Crackerjack Finance)

Medical devices as pharmaceutical replacements.  (The Source)

Finance

The case of IPOs: who exactly is the client?  (Bronte Capital)

How credit default swaps help create an illusion of hedgability.  (Bloomberg, Felix Salmon)

Shadow banking ain’t what it used to be.  (FT Alphaville)

Global

How might a Euro crackup affect the UK.  (FT Alphaville)

What sort of equilibrium is Spain facing?  (Marginal Revolution)

What countries would benefit most from Eurobonds?  (Free exchange also Wonkblog)

India and China are looking for more investment.  (WSJ, ibid)

Why the place premium is so high.  (Businessweek)

Economy

The Case-Shiller numbers show a real mixed geographic bag for home prices.  (Calculated Risk, Money Game, Big Picture)

Just how big an effect did the debt ceiling debate have on the US economy?  (Bloomberg)

Lower energy prices are on reason for the trend of US companies “reshoring.”  (Dr. Ed’s Blog)

Skill and luck, risk and uncertainty and our need for overconfident entrepreneurs.  (Noahpinion)

Earlier on Abnormal Returns

The “confidential holdings” hedge funds do not want you to know about.  (Abnormal Returns)

What you missed in our Tuesday morning linkfest.  (Abnormal Returns)

Mixed media

Yodlee powers many of the new financial apps. Zack Miller talks with Chief Strategy Officer Joe Polverari.   (Tradestreaming)

An interview with Daniel Gross author or Better, Stronger, Faster: The Myth of American Decline..and the Rise of a New Economy.  (Time)

A look at Moshe Milevsky’s The 7 Most Important Equations for Your Retirement: The Fascinating People and Ideas Behind Planning Your Retirement Income.  (Capital Spectator)

Abnormal Returns is a founding member of the StockTwits Blog Network.